Dubai Silicon Oasis Authority revenue hits Dhs544.7 million

Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), on Tuesday announced that DSOA achieved remarkable results in 2020 with a total revenue of Dhs544.7 million, marking a surge of 2.7 per cent from 2019.

Sheikh Ahmed stressed that including the integrated free zone technology park as one of the five urban centers – a science and technology and knowledge hub that drives innovation, digital economy development and talent generation – as part of the larger Dubai 2040 Urban Master Plan, is testament to its global status as a proof of concept for smart industries of the future.

He noted that this announcement is testament to DSOA’s efforts to adopt cutting-edge technology in new sectors, in line with the government’s directives to support the knowledge-based economy and benefit from the latest applications of the Fourth Industrial Revolution.

He highlighted that DSO attracted 1,731 new companies in 2020, raising the total number of companies registered at the free zone technology park by 2020-end to 4,936, registering a 54 per cent increase from 2019.

Sheikh Ahmed indicated that these results reflect the growth achieved by DSOA in various sectors, most significantly in terms of technology. He noted that the initiatives and policies implemented in the UAE under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, paves the way for the world’s quickest recovery journey from COVID-19 and achieving the development of a sustainable future in Dubai.

He emphasised that in a bid to enhance Dubai’s position as a leading destination that attracts foreign direct investments, DSO keeps pace with innovation and supports entrepreneurship through qualitative initiatives. He noted that such achievements reinforce the confidence of regional and global companies in Dubai’s position as a leading hub for investment in technology, research and development, and Fourth Industrial Revolution solutions.

For his part, Dr Mohammed Al Zarooni, Vice Chairman and CEO of DSOA, highlighted the crucial role that DSOA will be playing, as an incubator for innovation and knowledge, in line with Dubai’s journey to become the world’s smartest and happiest city to live in, and a major player in attracting foreign investments. He noted that the value of major projects completed in DSO in 2020 reached Dhs4 billion.

Al Zarooni indicated that Dubai Silicon Oasis contributes to the economic development of Dubai, through the distinguished services and investment environment it provides for new companies. He also praised DSOA’s efforts in attracting new talent and providing entrepreneurs with all the facilities needed to launch and grow their projects.

He noted that the new developments in Dubai Silicon Oasis, whether in education of advanced technology or in smart healthcare services, contribute to knowledge-exchange and empower innovation through encouraging research and development.

DSOA inaugurated its Dhs1.5-billion Dubai Digital Park (DDP) project, spanning an area of 150,000 square meters. Since its inauguration, several multinational companies have chosen DDP as their preferred destination to house their headquarters base their operations. This led DDP to reach 80 per cent occupancy rates for its office spaces and boutique buildings.

The smart solution-enabled community comprises 47,000 square meters of office space, 17,000 square meters of retail units, 235 smart residential apartments and more than 5,000 square meters of ready-made and plug and play offices. Its host of value-added contemporary lifestyle facilities includes a 112-key Radisson RED hotel and 59 fully furnished apartments. DDP also includes a convention centre that can host up to 500 persons, restaurants, cafés, fitness centers, running tracks and cycling trails, a shopping centre and an underground parking garage that can accommodate more than 2,000 cars.

DDP provides 60 smart city services, offered through a unified and secure platform that effectively integrates the operational requirements of enterprises with the needs of employees, residents, and visitors. The smart services, at an investment of Dhs100 million, aim to promote smart city initiatives that are aligned with the vision of making Dubai the smartest and happiest city in the world.

900 Startups at DSO In a bid to promote and attract technology-focused startups, entrepreneurs, and innovators, the Dubai Technology Entrepreneur Campus (Dtec) is committed to providing advanced facilities to startups and entrepreneurs that are engaged in developing innovative solutions for smart cities, such as overcoming congestion, and ensuring effective waste management and energy efficiency. Dtec, DSOA’s wholly owned technology coworking space and the largest of its kindly in the Mena region, is currently home to more than 900 startups from 72 countries – registering a surge of 7 per cent over 2019, with many companies working on blockchain and AI technologies.

On the economic front, Dtec attracted approximately 1,500 startups, created more than 3,500 jobs, and supported the inflow of close to Dhs500 million into the UAE economy since its inception. The hub expanded its premises by more than 60,000 square feet to provide additional space for around 800 startups in the next three years, bringing up its total area to more than 108,000 square feet.

Fakeeh University Hospital at Dubai Silicon Oasis, the first-of-its-kind smart university hospital in the UAE, was inaugurated last year. The Dhs1.5-billion smart hospital spans one million square feet, combining integrated AI-robotic systems and medical competencies to take the sector to new heights.

The hospital partnered with global technology companies including Siemens, Philips, and Cisco to develop innovative systems whose proof of concepts and applications in the healthcare field will further cement its position as the first truly smart hospital of the future in Dubai.

The 350-bed smart facility provides primary, secondary, and tertiary care through leading medical practitioners across 55 specialties. Equipped with cutting-edge technology, its systems are set up to treat an estimated 700,000 patients a year, serving communities in the UAE and the wider region.